Fisher Asset Management LLC Buys 35,349 Shares of Affiliated Managers Group, Inc. $AMG

Fisher Asset Management LLC grew its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 21.0% during the third quarter, HoldingsChannel reports. The firm owned 203,723 shares of the asset manager’s stock after buying an additional 35,349 shares during the quarter. Fisher Asset Management LLC’s holdings in Affiliated Managers Group were worth $48,574,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE boosted its position in Affiliated Managers Group by 1.4% in the third quarter. US Bancorp DE now owns 3,561 shares of the asset manager’s stock valued at $849,000 after buying an additional 49 shares in the last quarter. Procyon Advisors LLC lifted its stake in shares of Affiliated Managers Group by 3.1% in the 3rd quarter. Procyon Advisors LLC now owns 1,648 shares of the asset manager’s stock valued at $393,000 after acquiring an additional 50 shares during the last quarter. Millstone Evans Group LLC boosted its holdings in shares of Affiliated Managers Group by 41.9% during the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 52 shares in the last quarter. Citigroup Inc. grew its position in Affiliated Managers Group by 0.8% during the 3rd quarter. Citigroup Inc. now owns 9,363 shares of the asset manager’s stock worth $2,232,000 after acquiring an additional 77 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Affiliated Managers Group by 6.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,333 shares of the asset manager’s stock worth $318,000 after purchasing an additional 81 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft set a $408.00 price target on Affiliated Managers Group and gave the company a “buy” rating in a research note on Friday, February 13th. UBS Group set a $295.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. The Goldman Sachs Group raised their price target on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $282.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $350.14.

Affiliated Managers Group Stock Down 0.8%

Affiliated Managers Group stock opened at $310.36 on Wednesday. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.50 and a beta of 1.18. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $334.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a 50 day moving average price of $309.64 and a two-hundred day moving average price of $269.31.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, topping the consensus estimate of $8.75 by $0.73. The company had revenue of $556.60 million during the quarter, compared to analysts’ expectations of $578.54 million. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. Affiliated Managers Group’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $6.53 earnings per share. Equities analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, February 23rd will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.17%.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.